SEOUL, South Korea (AP) — LG Display reported a $299 million profit for the fourth quarter Thursday thanks to mobile product launches by key customers including Apple Inc. but warned that earnings will decrease in the current quarter as demand for iPhones wanes.

The South Korean panel maker said its October-December net profit totaled 319.7 billion won ($299 million) compared with a loss of 6.3 billion won a year earlier when the European Union fined the company 215 million euros for price fixing. Sales rose 32 percent to 8.74 trillion won.